Calpers' 1% return for the fiscal year ended June 30 leaves it far short of its annual 7.5%...

|By:, SA News Editor

Calpers' 1% return for the fiscal year ended June 30 leaves it far short of its annual 7.5% target and could force the state of California and its cities to cough up more to the $233B retirement system to make up for the shortfall. CIO Joe Dear says the fund's target is attainable, though he acknowledged "we are going to have to employ new strategies."